How can a foreigner bring funds into Singapore for property investment?

[NSEWC]

Hi I'm holding a US citizenship and residing in US currently. Through a friend recommendation, i understand US citizen enjoys the same tax rate as locals.. i'm thinking of buying a property in singapore for investment and maybe for own stay during the winter holidays. However i'm not sure of the procedures, charges involved and how to transfer my funds over or if i can pay from overseas??? I've checked with an agent but he's quite slow in response... i would like to get a second opinion here. Can someone advise?? Thanks!

[PNGMK]

The only tax advantage you'd enjoy is savings on stamp duty. Singapore is hellaciously expensive compared to Thailand or the Philippines which also have much friendlier visa policies for Americans.

[malcontent]

There are far better investment options out there if you want to maximize your wealth, but let’s say you have an 8 figure net worth and want to dabble in SG real estate… you have to ask one fundamental question: is it worth it?

It’s not as if ABSD exemption creates an arbitrage opportunity. Not having to pay ABSD just lowers the hurdle to break-even. It’s like wanting to buy a mutual fund for the sole reason that sales charge is waived for you. Does that really make it any more worth it?

It’s also not as if Singapore will back down on limiting upward movement in property prices here, they will do what is needed to keep things affordable, and that is going to limit future upside. Just do a quick comparison between the price index in SF versus SG over the past 15 years. Prices in SF have appreciated at double the clip. The tamp down here is real and tangible, and will continue.

Add to that, property taxes are on the rise, especially for those who cannot claim the property as their primary residence. If you reside here and need a place to live, that’s a different calculus - you’re then comparing it to an unavoidable rental cost. But it doesn’t sound like you even have the right of abode here.

[malcontent]

The only tax advantage you'd enjoy is savings on stamp duty. Singapore is hellaciously expensive compared to Thailand or the Philippines which also have much friendlier visa policies for Americans.

Fully agree. If you are looking for a Singapore-esque place to spend winters, BGC is the Singapore of the Philippines and Sukhumvit is the Singapore of Thailand. Although these are probably the two most expensive places to stay in the Philippines and Thailand respectively, they are still radically cheaper than Singapore.

[Lisafuller]

Basically anywhere is cheaper than SG haha, I wouldn’t live in Thailand, but I would definitely buy investment properties.

[malcontent]

Basically anywhere is cheaper than SG haha, I wouldn’t live in Thailand, but I would definitely buy investment properties.

Why not live in Thailand?

[Lisafuller]

Basically anywhere is cheaper than SG haha, I wouldn’t live in Thailand, but I would definitely buy investment properties.

Why not live in Thailand?

I’ve always been a city girl, so my options in Thailand would be pretty limited. The problem with the cities there though, is the general inefficiency- little things like the crazy traffic really add up for me. Not to mention the language barrier. Although the food is awesome, I’d rather keep Thailand as a vacation destination. Fun in small doses, but I can’t see myself living there long term.

[malcontent]

Basically anywhere is cheaper than SG haha, I wouldn’t live in Thailand, but I would definitely buy investment properties.

Why not live in Thailand?

I’ve always been a city girl, so my options in Thailand would be pretty limited. The problem with the cities there though, is the general inefficiency- little things like the crazy traffic really add up for me. Not to mention the language barrier. Although the food is awesome, I’d rather keep Thailand as a vacation destination. Fun in small doses, but I can’t see myself living there long term.

Have you been to Bangkok lately? They have made a lot of progress. The train network has expanded and the trains are so squeaky clean and safe, I often forget that I’m not in Singapore. Same thing in the major malls like Paragon. Convenient as well, along Sukhumvit, you can go from place to place via the elevated pedestrian network, which flanks the train line. Back 15-20 years ago, it was a different story.

[Lisafuller]

Why not live in Thailand?

I’ve always been a city girl, so my options in Thailand would be pretty limited. The problem with the cities there though, is the general inefficiency- little things like the crazy traffic really add up for me. Not to mention the language barrier. Although the food is awesome, I’d rather keep Thailand as a vacation destination. Fun in small doses, but I can’t see myself living there long term.

Have you been to Bangkok lately? They have made a lot of progress. The train network has expanded and the trains are so squeaky clean and safe, I often forget that I’m not in Singapore. Same thing in the major malls like Paragon. Convenient as well, along Sukhumvit, you can go from place to place via the elevated pedestrian network, which flanks the train line. Back 15-20 years ago, it was a different story.

Not in the last couple years, last time I was there everywhere was crowded and not too clean. Perhaps covid has changed things?

[malcontent]

Not in the last couple years, last time I was there everywhere was crowded and not too clean. Perhaps covid has changed things?

It also depends where you go. We stay right in the heart of Sukhumvit, near Siam Square. It’s like the Orchard Road of Bangkok.

The same can be said of the Philippines. I used to travel there frequently for business. The place I went to was Quezon City, but it was a 5 minute walk to a town called Eastwood. When you step into Eastwood, you’d think you were in California. Night & day different than the surrounding areas. One time when we were in Eastwood, I was jolted me back to reality when the power went out. That’s the one thing that affects most everywhere in the PI, except for the few who have generators.

[Lisafuller]

Not in the last couple years, last time I was there everywhere was crowded and not too clean. Perhaps covid has changed things?

It also depends where you go. We stay right in the heart of Sukhumvit, near Siam Square. It’s like the Orchard Road of Bangkok.

The same can be said of the Philippines. I used to travel there frequently for business. The place I went to was Quezon City, but it was a 5 minute walk to a town called Eastwood. When you step into Eastwood, you’d think you were in California. Night & day different than the surrounding areas. One time when we were in Eastwood, I was jolted me back to reality when the power went out. That’s the one thing that affects most everywhere in the PI, except for the few who have generators.

Wait, have you lived in Thailand before? I’d imagine the experience of a resident is far different than that of a visitor, even if it was a longer term visitor.

[malcontent]

Not in the last couple years, last time I was there everywhere was crowded and not too clean. Perhaps covid has changed things?

It also depends where you go. We stay right in the heart of Sukhumvit, near Siam Square. It’s like the Orchard Road of Bangkok.

The same can be said of the Philippines. I used to travel there frequently for business. The place I went to was Quezon City, but it was a 5 minute walk to a town called Eastwood. When you step into Eastwood, you’d think you were in California. Night & day different than the surrounding areas. One time when we were in Eastwood, I was jolted me back to reality when the power went out. That’s the one thing that affects most everywhere in the PI, except for the few who have generators.

Wait, have you lived in Thailand before? I’d imagine the experience of a resident is far different than that of a visitor, even if it was a longer term visitor.

I’ve only ever lived in US+SG, but used to travel extensively for my work, and for leisure before Covid. I moved to SG in 1996, so I’ve had decades to explore… and after so many trips, you learn a lot of ins and outs. We strive to live like locals except for the hotel - that is where location and convenience wins out.

I also take the time to do extensive research for any trip and in recent years I follow quite a few expat vloggers who provide a wealth of on the ground experience. Sometimes I get to know places so well, I feel like I could move there and it’d be an easy transition.

[Lisafuller]

It also depends where you go. We stay right in the heart of Sukhumvit, near Siam Square. It’s like the Orchard Road of Bangkok.

The same can be said of the Philippines. I used to travel there frequently for business. The place I went to was Quezon City, but it was a 5 minute walk to a town called Eastwood. When you step into Eastwood, you’d think you were in California. Night & day different than the surrounding areas. One time when we were in Eastwood, I was jolted me back to reality when the power went out. That’s the one thing that affects most everywhere in the PI, except for the few who have generators.

Wait, have you lived in Thailand before? I’d imagine the experience of a resident is far different than that of a visitor, even if it was a longer term visitor.

I’ve only ever lived in US+SG, but used to travel extensively for my work, and for leisure before Covid. I moved to SG in 1996, so I’ve had decades to explore… and after so many trips, you learn a lot of ins and outs. We strive to live like locals except for the hotel - that is where location and convenience wins out.

I also take the time to do extensive research for any trip and in recent years I follow quite a few expat vloggers who provide a wealth of on the ground experience. Sometimes I get to know places so well, I feel like I could move there and it’d be an easy transition.

I see. I too make it a point to do extensive research before taking any trips, helps give me a bit of peace of mind knowing the common scams, things to avoid, and hidden gems of the area. One of my favorite travel bloggers is a guy named Mark Wiens, based in Thailand although I think he’s moved back to the US since covid. I live vicariously through his videos, the food always looks incredible and its nice to be able to experience a little bit of other parts of the world when I can’t be there to experience it in person.